Currently, oil and gas corporations enjoy master limited partnership status, which allows them to receive tax benefits and publicly trade ownership interests, much like corporate stock. If master limited partnerships are available to renewable energy companies, financing clean energy becomes that much easier, and America moves closer to energy independence.
At Community Renewable Energy, we’ve been following progress on this front, as Chris Coons (D-Delaware) has introduced The Master Limited Partnerships Parity Act, which seeks to level the playing field.
Recently, the bill has gained support from Democrats and Republicans, including conservative co-sponsors Lisa Murkowski (Alaska) and Jerry Moran (Kansas).
In the words of Felix Mormann and Dan Reicher’s op-ed in the New York Times:
Renewable energy has come a long way since the 1970s energy crisis but much work remains. We must complement continued technological innovation with critical financial innovation — to level the playing field, incentivize growth, reduce subsidies and democratize America’s energy future.
We’ll be covering this developing news in-depth in the weeks to come, so be sure to check back for updates.